Wednesday, September 28, 2016

My listing at 302 Burnt Mills Ave in Burnt Mills Manor, a subdivision in Silver Spring, MD Just sold! I used an out of the box open house to secure the buyers

Cell/Direct:  (301)943-4370

On Monday we closed on my seller's now former home at 302 Burnt Mills Ave in Silver Spring, MD., located just off of Colesville Road/Route 29 in a subdivision called Burnt Mills Manor.

The home is a cozy 4 level brick  split with a custom addition that created an eat in kitchen.  Most split levels in this neighborhood don't have eat in kitchens.  The home has good bones and was a good opportunity for these buyers to get into a home, in a neighborhood they like, at a price they could afford and put their personal touches on the home to make it their own.

Despite being just off of a main road, Burnt Mills Manor is a quiet destination subdivision, meaning you don't drive through this coming to enter another community, almost like a no outlet street.  And, 302 Burnt Mills Ave is at the end of the street, very close to a walking trail.

On the selling side, I did target marketing, moved some items around and out of the house during the listing period, did some small home improvements to make the home show better and took a new set of pictures to show the changes to the home from when it was first listed.

The biggest challenge we faced and other sellers may face depending on the draw and desirability to specific neighborhoods was finding the buyer with the desire as well as vision to update the home.  Some buyers are of the mindset/temperament that they only want to buy fully updated/renovated homes.  

Late in the summer, to re-fresh the listing, since I thought the home showed better than when it was first on the market, we had a new set of pictures taken with floor plans of the home.
Labor Day Weekend was quickly approaching and I had a vacation planned.  So I decided to have a Pre-Labor Day weekend open house, holding the house open Thursday from 5 p.m. to 7 p.m. and 1 of the buyers came through the house with her agent.  On Sunday, the buyer's agent brought her and her husband back to the house to write an offer and after a few days of negotiations the buyers and sellers agreed to terms, I came back to town from vacation for the day to meet the seller and he signed off on the contract.

I wish the buyers happiness in their new home.

Congratulations to my seller and a thank you for the confidence to work with me through the sales process.  I am thankful also to the person who referred you to me and hope you will refer me to others in the future.  I wish you all the happiness in the world.

Any time you or someone you know is thinking about moving, whether it is selling, buying or both, the first move you should make is reaching out to me for a free, no-hassle consultation. 
My cell is (301)943-4370 and you can also email me:
Even if you aren't looking to make a move but have a real estate question, please call or email me.  I always have time and am thankful for your referrals.

Life is good!


Cell/Direct:  (301)943-4370
Office:  (301)921-4500 - ask for Adam

RE/MAX Realty Group
information deemed to be accurate but not guaranteed

Shortage of Appraisers and how to plan as both a buyer and a seller

Cell/Direct:  (301)943-4370

Part of the sales contract includes the option of having an appraisal contingency. When getting ready to write or review an offer, depending on whether I am on the buying or selling side, I ask the lender how many days the appraisers he/she works realistically need to to complete this contingency to make sure it is in line with what is on the contract.

As you can see from reading this article, there is a shortage in appraisers which is often resulting in delays during a sales contract period so it is extra important for sellers to do as much upfront diligence on a buyer to make sure they are qualified financially to buy their home before accepting a contract as sellers should have it in the back of their minds that as a consequence of the shortage of appraisers, the contract period may take a longer time.

Some buyers try to wait until after the home inspection contingency is fulfilled before giving their lender the green light to order an appraisal but doing so can put the buyer behind the 8 ball on the contingency if it takes a long time to get the inspector out to the house and/or there are lots of back and forth between the buyers and sellers in negotiating inspection items. A domino impact is that the lender cannot give a financing commitment until the appraisal is complete and a delay in that could delay in settlement. And, if you delay settlement, you may have to pay to extend your lock-rate, though interest rates remain very low.

If timing is tight a buyer can always write an addendum asking the sellers to extend the appraisal contingency. The selling side must be agreeable and this may depend on how friendly or abrasive negotiations have been, how long the house has been on the market and how long it has been off the market under contract.

Sellers, my biggest piece of advice is that your agent should do as much diligence up front in reviewing each buyer's offer, talking with their lender and making sure that the buyer is strong financially before accepting an offer.  If the buyer is strong and has otherwise presented a contract that works for you as is or is negotiable,then I would keep it in the back of my mind that if the buyer needs to extend the appraisal contingency (which could also mean extending the financing contingency and the settlement date), I would agree unless the buyers are not being reasonable during the inspection period and you want to start fresh with a new possible buyer.

 In addition, before considering backing out of a contract, I would factor into this how many days your home was on the market before getting any offers, if the market is strong or weak for sellers.

Any time you or someone you know is contemplating a move or has a real estate question, please call me:  (301)943-4370 or send me a note to  

I always have time for and greatly appreciate your referrals.

Life is good!


Cell/Direct:  (301)943-4370
Office:  (301)921-4500  - ask for Adam
RE/MAX Realty Group

Information deemed to be accurate but not guaranteed